BrightSpire Capital, Inc. (NYSE:BRSP) Announces $0.16 Quarterly Dividend

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.16 per share on Tuesday, October 15th. This represents a $0.64 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date of this dividend is Monday, September 30th.

BrightSpire Capital has increased its dividend by an average of 53.3% per year over the last three years. BrightSpire Capital has a payout ratio of 79.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect BrightSpire Capital to earn $0.67 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 95.5%.

BrightSpire Capital Price Performance

BRSP stock opened at $5.77 on Friday. The business has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $6.09. The company has a market capitalization of $753.74 million, a P/E ratio of -10.49 and a beta of 1.89. BrightSpire Capital has a twelve month low of $5.07 and a twelve month high of $8.01. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69.

Wall Street Analysts Forecast Growth

BRSP has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a report on Thursday, September 19th. BTIG Research reaffirmed a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.00.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.